Major Government’s Influence towards Blockchain Technology

The wealthy myth of cryptocurency is frustrating, and the blockchain technology that originally wanted to seek a foothold in the financial sector has continued to get hot. More and more individuals and institutions have entered the blockchain business transformation. However, who do you guess is the biggest supporter of blockchain technology? It is a national government.

This will show you and you will find that the attitude of the governments of various countries to the blockchain is somewhat similar to the attitude of companies and individuals to the blockchain. Blockchain does not belong to a country. It is a global movement. Today, as the price of the currency sinks and floats, Xiao Tan hopes that you can calm down and look at the attitudes of various countries toward the blockchain.

Russia — Using Blockchain as a Political Tool

Just recently, Putin and the blockchain experts from 15 countries, including the United States, India, Israel, Armenia and Turkey, discussed the future of blockchain and cryptocurrency network protocols directly with the founder of EthereumBut Putin’s “consensus” between the country’s blockchain and digital currency is not quite the same. in the New York consensus. Putin wrote and directed himself, and he and Russia were given a “big sale on the blockchain’’. Putin believes that the establishment of a blockchain alliance between governments of various countries can eliminate the isolation of countries, and that the potential benefits of blockchain can benefit every country. Therefore, he and 15 countries should discuss together and issue a “The “national currency” to solve the economic and trade issues between countries. In fact, if countries have a consensus on bitcoin, they can also solve the trade and economic problems among all countries to a certain extent. If so, why should we issue a “coalition currency” to allow these 15 countries to participate together? Is Putin playing the DPoS consensus algorithm?. Putin’s “Alliance” seems to be a central manifestation.

We believe that Putin’s preemptive action in blockchain has several reasons

· First, show Russia’s positive attitude towards the blockchain and its sentiment and strength in the blockchain

· Secondly, as Russia’s presidential Election Day approaches, Putin needs to demonstrate its means of strengthening the country in all aspects

· Thirdly, it will eliminate long-term threats to the development of blockchains in other former Soviet republics such as Belarus

Belarus — Actively embracing ecosystem

When you mention Belarus, what do you think of? Art gymnastics? Synchronized Swimming? Perhaps many people, like Xiao Tiao, have no idea where the English name of Belarus is, and where the geographical location is. Actually, although Belarus is rarely seen in international news, the Belarusian government is taking the lead in the trend of embracing digital currency. Not long ago, Belarussian President Lukashenko signed the Digital Economic Development Regulations, recognizing the legal status of all blockchain-related businesses such as digital currencies, mining, and smart contracts in Belarus. This president, known as “the last dictator in Europe” and who has been less willing to accept the VC model into his own company, has even made a green light on the mode of digital currency financing. In order to speed up the implementation of new legislation and attract more blockchain projects that are prohibited from investing in other countries, the Belarusian government has stipulated that until 2023, taxes on profits and profits from digital currency transactions should be exempted.

Therefore, Belarus has almost become a paradise for money issuers.

· In order to protect the security of public participation, Belarus is also drafting relevant laws. It is expected that in the follow-up of new legislation, the important standards that digital currency transactions need to meet will be listed in detail to minimize fraudulent activity.

· In other words, once the legislation is implemented, Belarus is likely to be the first country to provide a clear digital currency legal framework.

· From a political perspective, building the ecosystem of the blockchain may be the only opportunity for Belarus to find a sense of presence in international affairs in the near future

Estonia — A Small Country to Be Learned by Japan

When you talk about Estonia, you may feel stranger, but do you know? Skype, the video-calling tool we are accustomed to, is born from this small Nordic country. For Estonia, a small country that is also a member of the former Soviet Republic, they are using blockchain technology to better improve their country’s citizen electronics system.

“In the computer world, it was not designed at first, and it was very difficult to change it back, let alone in the blockchain.” A developer told Xiao Tu. Without the complex and large IT system of the early days, it has now become the advantage of Estonia. They can start from scratch and can easily rely on the latest technology to build a new digital society. However, as early as ten years ago, Estonia was the first country in the world to suffer a nationwide cyber attack. This experience also sounded a warning for Estonia, forcing the government of Estonia to invest a lot of money to solve data security problems, and slowly became an entrepreneurial center based on this. Today, almost all public services in Estonia are digital. Every citizen of Estonia has its own digital identity and is used to access all public services in Estonia. The blockchain technology used by public services enables all departments to exchange data. If your baby was born in Estonia, health data such as date of birth, blood type, weight, etc. were directly collected by the hospital when it was born. The hospital then transmitted the date of birth directly to the Population Registry, which then transmitted the registration data to the medical department. The insurance company saves all the licensing procedures you needed before. This is just an application scenario of Estonia on the blockchain. The technical improvements in these details have saved every Estonian citizen from unnecessary paper work and are expected to save 240 hours for everyone’s life. Estonia has become a leader in digital security in various countries. Many blockchain companies are working with Estonia. Estonia’s obscurity in the development of blockchain technology has not only attracted more and more blockchain companies, but also attracted attention from other countries. Abe Shinzo was the first Japanese prime minister to visit Estonia and study in Estonia. He hopes that the digital society in Estonia will also be able to land in Japan.

Georgian Attempt

Another country in the former Soviet republic, Georgia, is also working closely with the blockchain company BitFury, and is using blockchain technology to solve its problems with land ownership. Last year, the Georgian government moved its land registration to the blockchain and smoothly handled 160,000 copies of land registration information. The application of these blockchains has only just begun.

The Conclusion

The blockchain of the decentralized system is facing an ironic fate. This once-liberal technology against centralization is becoming the best technology choice for governments in land registration, identity management systems, medical records, and even elections. The governments of various countries are actively participating in this wave of technology

Crypto Enthusiast | Economist | Entrepreneur